Markets welcome 2018 with a smart rally; BSE SmallCap up 3.5% so far

Mid- and small-cap stocks outperform Sensex and Nifty; experts say outlook positive

The first seven trading sessions of 2018 saw 296 stocks from the broad-based BSE 500 index gain more than the Sensex, which was up 1.1 per cent.

Even as the benchmark indices make new highs, the party on Dalal Street is going strong in the mid- and small-cap stocks. Of the BSE 500 shares, 139 have posted gains of over five per cent.

Several themes have caught the market’s fancy. Sanjiv Goenka group’s Phillips Carbon Black was the best performer in the BSE 500 index in the first seven trading sessions of 2018, with its shares rallying a whopping 48.8 per cent.